Sell a Business Tips
Selling a Stair Equipment Business
Don't believe anyone who tells you it's easy to sell a stair equipment business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Although we're optimistic about the economy, we also recognize that it takes the right strategy to sell a stair equipment business in today's market.
A business sale is always a sophisticated transaction and if you aren't prepared for it, your stair equipment business sale could have an unexpected outcome. To stay on course, you'll need sound strategy and meticulous execution on your side.
Current Market Conditions
No one plans to sell a stair equipment business in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. Like it or not, the time to sell your stair equipment business may be right now, as long as your willing to adequately prepare your business for the marketplace.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Post-Sale Details
The way you exit your stair equipment business is just as important as the way you sell it. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
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